A Revision of the Treaty Being a Sequel to The Economic Consequence of the Peace

"A Revision of the Treaty" by John Maynard Keynes is a historical account written in the early 20th century, specifically in the post-World War I era. This work serves as a sequel to his earlier publication, "The Economic Consequences of the Peace," and primarily discusses the ramifications and proposed revisions of the Treaty of Versailles, especially in relation to reparations and international politics. The book likely aims to offer a critical analysis of the Treaty and its implications for Europe, contributing to the discourse on how post-war treaties can be structured for sustainable peace. The opening of the book introduces Keynes’s intent to reassess the Treaty of Versailles based on new developments and opinions that have emerged since its ratification. He reflects on the folly of political rhetoric in peace negotiations and critiques the decisions made by key statesmen, such as Lloyd George. He emphasizes the need for an intelligent review of the reparations problem, arguing that many of the Treaty’s expectations are impossible to fulfill and discussing the evolving public sentiment toward more reasonable and manageable arrangements. Keynes sets the stage for a detailed examination of the contemporary state of opinion regarding reparations, highlighting the persistent disconnect between public and political perceptions. (This is an automatically generated summary.)

John Maynard Keynes, 1st Baron Keynes, was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. He is known as the "father of macroeconomics".